Health Insurance Stocks Rally With Release Of Baucus Health Bill
Health Insurance Stocks Rally With Release Of Baucus Health Bill
Earlier this morning Senate Finance Committee Chair Max Baucus (D-MT) unveiled his committee’s health care bill, which has no public option and mandates that everyone buy insurance. While Baucus has failed to garner support from any congressional Republicans and has outraged progressives, there has been one very positive response to his proposal.
Following Baucus’ announcement, HealthNet shares increased by 3%, United Health Group Inc shares rose by 2.7%, Humana Inc. grew by 2.6%, Wellpoint stock gained 1.7% and Aetna Inc rose 1.6%:
Earlier this week, ThinkProgress interviewed Wendell Potter — a former health insurance executive — who pointed out that “every time there is an article in a big newspaper questioning the success of progressives in getting a good bill passed, the stock will go up.” “The analysts/investors don’t think any good reform is going to happen, or anything that would happen that would adversely affect the insurance companies,” he said. Watch it:
In fact, since the President signaled that he is backing away from the public option, health insurance stocks have been on the rise. “Health-care investors are starting to breathe a sigh of relief as they feel the worst case could be averted,” John Sullivan, director of research at Leerink Swann, told the Wall Street Journal in August. “Health-care stocks have risen 22% since late February, when President Barack Obama began his push for an overhaul; the overall market is up 38%” between late February and August.
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So will that be the intent of the senate?
Corporate tyranny rules?
September 16th, 2009 at 3:04 pmHealth Insurance Companies to Baucus : MISSION ACCOMPLISHED
Your check’s in the mail , tool…………
September 16th, 2009 at 3:08 pmThey’ll go back down when baucus bill winds up in the trash…….heh.
September 16th, 2009 at 3:08 pmWell, of course they did.
When someone hears that the insurance industry is about to get handed a piece of legislation that doesn’t provide them any competition but still mandates individual coverage, that is a huge tax-payer-subsidized give-away to the industry. The smart money is on investing with them and getting your own slice of the pie.
September 16th, 2009 at 3:08 pmThe investors know that Baucus PIPPA will be a huge gift to greed.
September 16th, 2009 at 3:09 pmFred:
September 16th, 2009 at 3:09 pmExactly. Just because the bill was released doesn’t mean it was passed. I seriously doubt that it will get the needed support to pass the Senate. It just doesn’t solve the problems in any meaningful way.
Health Insurance Stocks Rally With Release Of Baucus Health Bill
Yup, health industry hearts Mad Max
Baucuscare + health insurance stocks = Greed is good
September 16th, 2009 at 3:10 pmYES! YES! YES! YES!
WORKIN’ IT … WORKIN’ IT!!!
September 16th, 2009 at 3:10 pmnormally i would say this is a great “shorting” opportunity….but after Kucinich revealed on DailyKOS how the healthcare bill is going to be passed…..i wouldn’t bet against the corporatists/fascists.
http://www.dailykos.com/story/2009/9/15/782607/-The-Private-Mandate-Sausage-Machine
September 16th, 2009 at 3:10 pmNow watch tnem drop back down, probably even further, when Baucus bill doesnt go anywhere.
September 16th, 2009 at 3:11 pmParasite street is licking its lips at the thought of more taxypayer blood.
September 16th, 2009 at 3:12 pmI recommend the execs of these companies sell some stock TO-DAY! By tommorow, the libs will be on their fact-checking spree, word will get out, and the dream will die. Limited time fellas, it will help during these rough times you’re facing.
September 16th, 2009 at 3:13 pmThis reminds me of Bernanakes Public Private Investor Plan where the public gets left holding the bag
Cue Deather crying over government spending they wanted.
September 16th, 2009 at 3:16 pmThe insurance mandate is a mass education of the joy of unregulated capitalism in the making. I recommend you liberals embrace the destiny. It’s like a forced season pass to Kings Dominion.
September 16th, 2009 at 3:17 pmCorporate socialist welfare rocks, right tenbifdeathers?
September 16th, 2009 at 3:18 pmF*k Wall Street.
September 16th, 2009 at 3:19 pmXisithrus says:
Corporate socialist welfare rocks, right tenbifdeathers?
Exactly. And this is the part where deficits don’t matter.
September 16th, 2009 at 3:19 pmWhat a wacky thing our corporation has become, um I mean government, wait, you not only work for a living you work to support a business you dont work for.
September 16th, 2009 at 3:19 pmSeptember 16th, 2009 at 3:20 pm
You work for a living so we can put you out of business!
You always have a ‘choice’ in health care – buy our stock!
September 16th, 2009 at 3:23 pmHow are we going to pay for it?
Myth!
September 16th, 2009 at 3:24 pmBut the way I understood Obama’s speech on Wednesday was that even with a PO, only those folk who have no other recourse – poverty, not eligible for Medicaid, etc – would be allowed to purchase insurance from it – those who already have insurance will not be able to change plans or buy from the PO. So the final bill will only help the industry rather than any of us.
Anyone care to elaborate to help me understand?
September 16th, 2009 at 3:25 pmOne of the bloggers asked on a prior post about what was in Baucuscare bill? I found the bill. Hat tip to Talkleft website. Here is the link. The bill is 225 pages long:
http://finance.senate.gov/sitepages/leg/LEG%202009/091609%20Americas_Healthy_Future_Act.pdf
Here are some of the highlights:
Excise Tax. The consequence for not maintaining insurance would be an excise tax. If a taxpayer‘s MAGI [Adjusted Gross Income] is between 100-300 percent of FPL [Federal Poverty Level], the excise tax for failing to obtain coverage for an individual in a taxpayer unit (either as a taxpayer or an individual claimed as a dependent) is $750 per year.
However, the maximum penalty for the taxpayer unit is $1,500. If a taxpayer‘s MAGI is above 300 percent of FPL the penalty for failing to obtain coverage for an individual in a taxpayer unit (either as a taxpayer or as an individual claimed as a dependent) is $950 year. However, the maximum penalty amount a family above 300 percent of FPL would pay is $3,800.
[More] . . .
The excise tax would apply for any period for which the individual is not covered by a health insurance plan with the minimum required benefit but would be prorated for partial years of noncompliance. The excise tax would be assessed through the tax code and applied as an additional amount of Federal tax owed. No excise tax will be assessed for individuals not maintaining health insurance for a period less than or equal to three months in the tax year. However, assessed excise taxes for those not insured for more than three months include the entire duration the individual was uninsured during the tax year.
Exemptions from the excise tax will be made for individuals where the full premium of the lowest cost option available to them (net of subsidies and employer contribution, if any) exceeds ten percent of their AGI. Available policies are defined as an employer policy in the case of an individual who works for an employer who offers coverage and an individual policy in the case of an individual who does not have access to an employer sponsored plan. Exemptions from the excise tax will also be made for individuals below 100 percent of FPL, any health arrangement provided by established religious organizations comprised of individuals with sincerely held beliefs (e.g., such as those participating in Health Sharing Ministries), those experiencing hardship situations (as determined by the Secretary of Health and Human Services) and an individual who is an Indian as defined in Sec. 4 of the Indian Health Care Improvement Act. Additionally, in 2013, individuals at or below 133 percent of FPL will be exempt from the excise tax. When making these determinations, income from individuals not subject to the mandate should not be considered.
Excise tax…Instead of taxing people why not enroll people in a public option program. Okay there is more…
Here is the co-op provision:
The Chairman‘s Mark authorizes $6 billion in funding the Consumer Operated and Oriented Plan (CO-OP) program to foster the creation of non-profit, member-run health insurance companies that serve individuals in one or more states. CO-OP grantees would compete in the reformed individual and small group insurance markets. Federal funds would be distributed as loans and grants. Loans would be provided to assist with start-up costs, and grants would be provided to meet state solvency requirements.
In order to be eligible for Federal funds under the CO-OP program, an organization must meet the following requirements.
1. It must be organized as a non-profit, member corporation under State law.
September 16th, 2009 at 3:26 pm2. It must not be an existing organization that provides insurance as of July 16, 2009, and must not be an affiliate or successor of any such organization.
3. Its governing documents incorporate ethics and conflict of interest standards protecting against insurance industry involvement and interference.
4. It must not be sponsored by a State, county, or local government, or any government instrumentality.
5. Substantially all of its activities must consist of the issuance of qualified health benefit plans in the individual and small group markets in each State in which it is licensed to issue such plans.
6. Governance of the organization must be subject to a majority vote of its members (i.e., beneficiaries).
7. As provided in regulations promulgated by the Secretary of Health and Human Services (HHS), it must be required to operate with a strong consumer focus, including timeliness, responsiveness, and accountability to members.
8. Any profits made would be required to be used to lower premiums, improve benefits, or for other programs intended to improve the quality of health care delivered to members.
[. . . ]
In related news, the US automakers are delighted with a new law that mandates that each US adult buy a car from a US automaker.
Porn industy went through the roof with the combination of the porn industry being named by Newtie as the business of the year **COMBINED** with a new US law allowing them to mail you their product and collect relevant fees without your permission.
Personally, I am very much for a mandate for health insurance but am outraged that we are doing this in a way to give money to the insurance industry (closely aligned with the finance industry) without one iota of reform or oversight!
September 16th, 2009 at 3:26 pmWoooo Hoooo! Corporate socialism is so much better than debt peonage.
Snark
September 16th, 2009 at 3:26 pmI cant wait till I get mandated to eat Taco Bells grade E meat and powdered beans!!
September 16th, 2009 at 3:28 pmXisithrus says:
Woooo Hoooo! Corporate socialism is so much better than debt peonage.
SnarkAlternate reality
September 16th, 2009 at 3:29 pmhttp://finance.senate.gov/sitepages/leg/LEG%202009/091609%20Americas_Healthy_Future_Act.pdf
This is just awesome, I will be healthy…except fot the fact I cant afford to eat….
September 16th, 2009 at 3:30 pmHey, maybe they will mandate that people have to take privatized food stanps! Way Stupendously Fabulous!
Corpor-communism here we come!!
September 16th, 2009 at 3:31 pmWell, since Taco Bell and health care and roughly the same consumer products, a mandate for the former isn’t far away.
September 16th, 2009 at 3:31 pmBaucus’s Bill won’t go anywhere. Already many Dems vow not to back it. The people in Baucus’s district better wisen up. Their representative isn’t representing THEM, He is representing the Insurance Fat Cats.
September 16th, 2009 at 3:34 pmI don’t see why you are complaining. This will save Americans trips to the farmer’s market for a hot, ready, drive-thru meal with tremendous variety. Face it, Americans think eating fast food is fun. And all the artery clogging and calories, well, AEI health experts disproved that.
September 16th, 2009 at 3:36 pmThere is something very obscene about people getting rich off of people being sick.
September 16th, 2009 at 3:38 pmThe Gang of Six, helping their owners, working against the common man.
All Six of them should have never been put to that task.
Looks like everyone in our government is totally corrupt.
September 16th, 2009 at 3:40 pmThey were called the gang of six for a reason. I knew the goodies were coming. Tonight, they celebrate as the gang of sex.
September 16th, 2009 at 3:42 pmOrgy at Karen Ignagni’s house! I’m officiating!
September 16th, 2009 at 3:43 pmThe Republicans won’t back the Baucus bill, and most Democrats detest it. It’s not going anywhere.
The Republicans don’t want Democrats to get ANY credit for “health care reform”, no matter what that “reform” looks like. They are banking on this issue being President Obama’s Waterloo, and their objective is for him to fail at any cost — even if it means destroying the country to do it.
So even though Baucus wrapped up a lavish gift to the insurance companies, the GOP isn’t taking the bait because Baucus has a “D” next to his name. They want to see a spectacular “five-spiral” (sorry, Dubya) failure for the Democrats. All of them.
And THEN, after it’s widely accepted that the Dems have “failed” on health care reform, the Republicans will offer their own bill, which will look almost identical to Max Baucus’ bill.
September 16th, 2009 at 3:43 pmDear Max,
Your checks are in the mail!
Love,
Uncle Insurance Executive
September 16th, 2009 at 3:44 pman individual who is an Indian as defined in Sec. 4 of the Indian Health Care Improvement Act.
WOOOT!!! Score, no tax for me.
September 16th, 2009 at 3:45 pmXisithrus says:
This is just awesome, I will be healthy…except fot the fact I cant afford to eat….
lol Baucus needs to get out open and see the amount of people at a food bank, going to fast food places, and how many corporate ads for McDonalds, Carls’ Jr, Jack In the Box, and so on on teevee and newspapers versus ads promoting eating healthy foods.
But the excise tax in that bill is clearly robbery to the American people. The bill should have been called: The Robin Hood care bill: Steal from the poor and middle class and give to the rich thieves.
September 16th, 2009 at 3:46 pmAnd this is on TOP of a 3-5% increase they had last week after “thePrez” made his health-care speech…
Anybody who says Obama, and everybody else in this health-insurance debacle, is NOT out to PHUCK US should not be allowed to marry or operate any machinery…
September 16th, 2009 at 3:46 pmYup,
Hey American, You must buy health insurance from one of our donor……um. Ah.. Highly competitive private insurance companies. This is for your own good, we will show the insurance companies that we can bring them alot more busin… people to help spread the cost, yeah that’s it.
September 16th, 2009 at 3:46 pm@ 23, SP Biloxi says: (Shorter) They’re gonna PHUCK YA!
September 16th, 2009 at 3:49 pmIt’s interesting that the health insurance industry likes the Baucus bill, but the Republicans don’t. It makes you wonder what the Republicans’ problem with the bill could possibly be. Not that Republicans are acting very rationally these days.
September 16th, 2009 at 3:53 pmOnly in the USA is profiteering allowed off the backs of the dying and ill.
So disgusting.
September 16th, 2009 at 3:53 pmRE: Perry Logan @ 44: They just hate our African-American president. That’s all there is to it.
September 16th, 2009 at 4:04 pmThe health care bill is not a done deal. There is still more horse trading to be done because there are senators and the house that are going to weigh in on the bill. And they are not going to support it in its current form.
September 16th, 2009 at 4:04 pmIt’s interesting that the health insurance industry likes the Baucus bill, but the Republicans don’t. It makes you wonder what the Republicans’ problem with the bill could possibly be.
I will bet a majority of our TV cable media viewers have no clue of the greedy profiteering thru death care going on only in our country. And as that fact is hidden by the complicit media, Baucus’s bill would be a big win to the majority, Obama’s approval ratings would soar and further the decline of the GNOP.
If the GNOP get their wish of NO change then they can ram the fact the dems can not get anything done.
The GNOP could care less about the little people dying because of no access, access cut off to health care. And they desperately want to preserve their white privileged.
September 16th, 2009 at 4:08 pmThe fact that health insurance stocks rallied is a telltale sign that Baucus’ bill is nothing more than corporate welfare, as if we already didn’t know…We are too psychologically tied to the Dow Jones as it seems that if Wall Street doesn’t like it, we don’t do it out of fear that the stocks will drop.
September 16th, 2009 at 4:13 pmWhat do they care about any stupid health care bill? They’re all set for life! Plus, they have much more important things to worry about, like this for example:
The Senate voted Wednesday to prohibit federal funding to Amtrak unless it allows licensed gun owners to transport their weapons on the passenger trains by next year.
September 16th, 2009 at 4:13 pmI think that Baucus’ little breach baby is so far past d.o.a. that it can’t ride its lobby horse back to critical and terminal.
September 16th, 2009 at 4:13 pmI say let’s deny this sick one the treatment it craves, and pull the plug on Maxie’s mess.
It looks like Maxie has brought us the ten percent minimum tax! We’ll just be paying it to the insurance industry. I guess that’s what they were paying Maxie for all along.
September 16th, 2009 at 4:24 pmThe minimum cost insurance policies under Maxie’s mess will be the one’s that deny everything all the time, with the sole exception of premium collection.
September 16th, 2009 at 4:28 pmThe industry will structure their premiums using as a model Dennis Miller’s joke about rising movie ticket prices, where it cost eight dollars for a ticket, and $2.50 to sneak in for free.
I could happily kick Max Baucus, Harry Reid and the rest of the Blue Dog Dems in the ‘nads right now.
September 16th, 2009 at 4:54 pmi should of invested on health insurance companies… these stupid democrats can’t get shit done… i should of know it.. if they pass this bill with a mandate and no public option i’m gonna flip the F up
Actually i take that back.. child labor, diamonds and slavery made money.. so does prostitution.. i would never invest in companies that profit over the death of millions
September 16th, 2009 at 4:55 pmI can’t get over how awful this Baucus plan is!
Tens of millions with no health insurance?
Easy! Just force them all to get it!
Unreal.
September 16th, 2009 at 4:57 pmIf we don’t have a bill with a public option signed by November, when my open enrollment is, I’m switching to Kaiser. I just can’t let my dollars and my employer’s dollars pay for lobbyists and shareholder profits and obscene salaries. Enough!
September 16th, 2009 at 5:05 pmAmerican Corporations = Greed, Evil, UnPatriotic and UnAmerican
September 16th, 2009 at 5:11 pmMake them eat cake!
September 16th, 2009 at 6:09 pmThe president and congress has no authority in the constitution to make anyone buy health insurance.
September 16th, 2009 at 7:01 pmI hope everyone will sign this petition and get the link around to every person and every website that you can.
http://healthcare.kucinich.us/petition/
A PETITION ESTABLISHING HEALTH CARE AS A CIVIL RIGHT
Whereas, Universal Health Care was proposed by President Teddy Roosevelt in 1912; and
Whereas today, nearly 100 years later, 47 million Americans are uninsured and another 50 million are underinsured bringing great social and economic harm to the American family; and
Whereas, HR 676, authored by Congressmen John Conyers and Dennis Kucinich provides for Medicare for All, a universal, single payer, not-for-profit health care system which means the end of premiums, copays and deductibles; and
Whereas we are already paying for a universal standard of care but are not getting it because one of every three dollars in the health care system goes to the activities of the for-profit insurance system; and
Whereas HR676 firmly establishes health care as a Civil Right, consistent with the Preamble to the Constitution of the United States and Article 1, Section 8 of the U.S. Constitution which defines a purpose of government “to promote the General Welfare,” now therefore,
I HEREBY EXPRESS MY STRONG SUPPORT FOR HR676, SINGLE PAYER HEALTH CARE, AND THE PRINCIPLES OF ECONOMIC JUSTICE FOR WHICH IT STANDS:
September 16th, 2009 at 10:20 pmconservaTROLL
GOD you are stupid. Just kill yourself
September 18th, 2009 at 4:18 amThank you for your sharing.!
September 23rd, 2009 at 5:53 amThose stock repurchase programs are a way of rewarding shareholders. gögüs büyütme
September 23rd, 2009 at 10:22 am